Barclays plans five-year annual reset coupon notes linked to S&P 500

By Toni Weeks

San Diego, June 5 - Barclays Bank plc plans to price annual reset coupon buffered notes due June 30, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 6% to 8% if the index closes at or above its initial level for each annual observation period. Otherwise, the coupon will be 3.5%. Interest is payable annually.

The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for every 1% decline beyond 15%.

The notes (Cusip: 06741TAF4) are expected to price June 26 and settle June 29.

Barclays Capital Inc. will be the agent.

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